Linde plc (NASDAQ:LIN) Holdings Decreased by Canoe Financial LP

Canoe Financial LP reduced its stake in shares of Linde plc (NASDAQ:LIN) by 1.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,136 shares of the basic materials company’s stock after selling 700 shares during the quarter. Canoe Financial LP’s holdings in Linde were worth $19,246,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. National Bank of Canada FI grew its stake in Linde by 46.9% during the 1st quarter. National Bank of Canada FI now owns 48,211 shares of the basic materials company’s stock worth $20,593,000 after buying an additional 15,393 shares during the last quarter. Vident Advisory LLC boosted its position in Linde by 40.7% during the 1st quarter. Vident Advisory LLC now owns 8,075 shares of the basic materials company’s stock worth $3,750,000 after acquiring an additional 2,337 shares during the period. Choate Investment Advisors boosted its position in Linde by 23.6% during the 1st quarter. Choate Investment Advisors now owns 18,017 shares of the basic materials company’s stock worth $8,366,000 after acquiring an additional 3,437 shares during the period. Norden Group LLC acquired a new position in Linde during the 1st quarter worth $5,041,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Linde by 4.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,975 shares of the basic materials company’s stock worth $26,215,000 after acquiring an additional 2,312 shares during the period. 82.80% of the stock is currently owned by institutional investors.

Linde Stock Down 0.1 %

NASDAQ:LIN opened at $473.76 on Monday. The firm has a market capitalization of $227.73 billion, a price-to-earnings ratio of 36.75, a PEG ratio of 3.05 and a beta of 0.94. Linde plc has a 1-year low of $366.12 and a 1-year high of $487.49. The company has a current ratio of 0.95, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The business’s fifty day moving average price is $472.24 and its 200 day moving average price is $451.20.

Linde (NASDAQ:LIN) last posted its quarterly earnings results on Friday, August 2nd. The basic materials company reported $3.85 earnings per share for the quarter, beating the consensus estimate of $3.79 by $0.06. The firm had revenue of $8.30 billion for the quarter, compared to analyst estimates of $8.30 billion. Linde had a return on equity of 17.92% and a net margin of 19.49%. Linde’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $3.57 earnings per share. On average, sell-side analysts forecast that Linde plc will post 15.52 earnings per share for the current fiscal year.

Linde Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were given a $1.39 dividend. This represents a $5.56 annualized dividend and a yield of 1.17%. The ex-dividend date was Wednesday, September 4th. Linde’s payout ratio is currently 43.13%.

Insiders Place Their Bets

In other Linde news, VP John Panikar sold 10,025 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $462.75, for a total value of $4,639,068.75. Following the transaction, the vice president now directly owns 17,584 shares of the company’s stock, valued at $8,136,996. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on LIN shares. Bank of America boosted their price target on Linde from $495.00 to $516.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. UBS Group reduced their price target on Linde from $490.00 to $475.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Citigroup boosted their price target on Linde from $470.00 to $480.00 and gave the stock a “neutral” rating in a research report on Friday, July 12th. BMO Capital Markets restated an “outperform” rating and issued a $477.00 price objective on shares of Linde in a report on Friday, August 30th. Finally, Barclays upped their price objective on Linde from $460.00 to $510.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $484.18.

About Linde

Linde plc operates as an industrial gas company in the Americas, Europe, the Middle East, Africa, Asia, and South Pacific. It offers atmospheric gases, including oxygen, nitrogen, argon, and rare gases; and process gases, such as carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.